☕🚀 The midterm pump
Bitcoin is back above $80K, stocks are up after the midterms, AI data centers face new rules and AMD crushed it...in 3 minutes. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Wednesday, November 4, 2026
Wednesday, Nov 4, 2026 · Markets, crypto and macro in 3 minutes
Markets are pumping after the midterms: BTC is back above $80K and both the S&P 500 and the Nasdaq are up. Our House View has leaned bullish on Bitcoin and the S&P 500 for weeks because the Money Line trend there has been up, and today was a good day for that view.
Overnight it looked ugly. Democrats won both the House and the Senate, and Nasdaq futures dropped as much as 2.4%. Then buyers stepped in, and by the open the drop was gone. The losers are AI data centers and Elon Musk's companies, not the whole market. Grab a coffee. Here's what happened.
Stick around to the end: that's where you'll find the Bullmania View, our take on where the markets go from here. Keep reading.
Market snapshot
Nasdaq Composite
25,866
+1.95%
S&P 500
7,682
+1.49%
US 10-year yield
4.95%
flat
Bitcoin
$80,447
+3.7%
Live as of 10:32 AM ET Wednesday. Stocks and the 10-year yield vs Tuesday's close. Bitcoin vs 24 hours ago.
Midterms: blue wave, green screens
Live as of 10:32 AM ET
The result: Democrats are on track for at least 232 House seats and at least 54 Senate seats. They took Senate seats from Republicans in Texas, South Carolina and Maine. Alaska and Mississippi are still being counted.
Texas turns blue: James Talarico beat Ken Paxton for the Senate seat. New governor Gina Hinojosa, the first Democrat since 1990, wants to pause new data-center building.
The pump: the S&P 500 is up 1.5% at 7,682 and the Nasdaq 100 is up 1.6%. A few hours ago, Nasdaq 100 futures were down 2.4%.
Weaker dollar: the dollar is down 0.4%. With the White House and Congress split, big new spending plans are unlikely to pass.
Why it matters: investors decided a split Washington isn't a disaster for the economy. Only a few kinds of stocks are getting hit.
Stocks: AI data centers get a new worry
Moves as of 10:32 AM ET
Data centers: Goldman Sachs says the Democratic wins could put 45% of planned new US data centers at risk, because some states may pause new building. CoreWeave is down about 7%.
Musk stocks lag: Tesla is down about 2.7% and SpaceX about 2.4%. Investors fear tougher rules and Musk's Republican ties.
AMD crushed it: it expects about $17 billion in sales next quarter, more than the $16.3 billion Wall Street expected. It also sees sales growing more than 80% in 2027. The stock spiked about 6% this morning and is now up about 1.4%.
The winners: Arista is up about 9.6% after its results, and solar stocks jumped, with First Solar up about 8.7%.
Why it matters: people still want AI. AMD just showed that. The new worry is getting data centers built. Land, power and permits now depend on politicians.
Crypto: Bitcoin is back above $80K
Bitcoin as of 10:32 AM ET
Dip bought: Bitcoin fell to $75,600 overnight. Now it's back above $80,000, at about $80,450, after touching $81,130.
Tougher Congress: Democrats plan to investigate the Trump family's crypto businesses. The big crypto rules bill, the Clarity Act, likely needs a rewrite, which takes time.
Wall Street keeps coming: Morgan Stanley started turning US stocks and Treasurys into blockchain tokens through DTCC. The CFTC approved the first perpetual futures on single US stocks. Those are bets on a stock's price that never expire.
Why it matters: Washington got harder for crypto, but the price is up anyway. A weaker dollar usually helps Bitcoin.
Macro: gold shines
As of about 10:30 AM ET
Gold: up 2.5% to $4,040, above $4,000. Gold is where nervous money goes.
Oil: Brent is down about 2.5% to $101.06. The US and Iran are looking at new peace proposals, and Trump says a strike isn't coming soon.
Jobs beat: ADP says private companies added 86,000 jobs in October. About 65,000 were expected.
Quick hits and what's next
All times ET
Today: Qualcomm, AppLovin and Arm report after the close.
Thursday: the Bank of England sets rates at 7:00 AM ET. Most expect a hike to 4%.
Friday: the October jobs report at 8:30 AM ET, with about 65,000 jobs expected.
The Bullmania view
Our read: the biggest Democratic win in decades just happened, and the market is up anyway.
Stocks: we're still bullish on stocks overall. The S&P 500 is bullish on the weekly Money Line. The Nasdaq's weekly Money Line is bearish, even on a green day like today. So to keep risk in check, our view leans more to the S&P 500 than the Nasdaq. That's not a call that the Nasdaq crashes. It's about sticking with the stronger trend.
AI: demand is huge, but building data centers just got harder. That hits the Nasdaq first.
Bitcoin: still bullish. It took the election, the fund outflows and the investigation headlines, and it's back above $80K.
The lesson: Following the trend instead of fighting it is the whole idea behind the Money Line. Trends can turn, which is why we keep checking it. One good day proves nothing, and past moves don't guarantee future ones.
The risk: investigations, data-center pauses and trouble with Iran could make the next few weeks bumpy.
This is our read of the market, not a recommendation.
Today's poll
Democrats now run Congress. What handles the blue wave best through year-end? One click to vote:
📊 S&P 500 (https://c5x8hqln.r.eu-central-1.awstrack.me/L0/https:%2F%2Fbullmania.com%2Fv%2Fbmd-2026-11-04-blue-wave%2Fsp500%3Fsid=4yunhzuv/1/010701a1a73f28b2-1cb87973-9554-439c-b36d-bc0c922b6d5e-000000/xZ-OOQWDP9kxGC1-45xK2bjwLq8=258)
💻 Nasdaq (https://c5x8hqln.r.eu-central-1.awstrack.me/L0/https:%2F%2Fbullmania.com%2Fv%2Fbmd-2026-11-04-blue-wave%2Fnasdaq%3Fsid=4yunhzuv/1/010701a1a73f28b2-1cb87973-9554-439c-b36d-bc0c922b6d5e-000000/wVFna4N-CznUkS8rQwB9CAqGW2M=258)
₿ Bitcoin (https://c5x8hqln.r.eu-central-1.awstrack.me/L0/https:%2F%2Fbullmania.com%2Fv%2Fbmd-2026-11-04-blue-wave%2Fbitcoin%3Fsid=4yunhzuv/1/010701a1a73f28b2-1cb87973-9554-439c-b36d-bc0c922b6d5e-000000/Y_VTd8zwmgGxuUuG1cCX8zeQtcs=258)
You'll see live results right after you vote.
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See you on the stream!
Ivan
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